Today’s Market Report

BY NAMRATA OJHA

Indian Market opens in a negative sentiment with Sensex at 54,614.68 down by 277.81 points and the Nifty at 16,264.10 down by 82.15 points.
The RBI on Wednesday decided to increase the Repo Rate by 50 basis points to 4.9 percent , Reverse Repo rate is maintained at 3.5 percent , MSF rate is increased by 50 basis points to 5.15%.
GDP forecast for FY23 retained at 7.2% . E- Mandate on cards for recurring payments limit has been increased from 5000 to 15000 per transaction.
The rupee closed at 77.4 marginally weaker than its previous close of 77.71.